Archive for February, 2015

03/02/2015

BBC News – The palace of shame that makes China angry

There is a deep, unhealed historical wound in the UK’s relations with China – a wound that most British people know nothing about, but which causes China great pain. It stems from the destruction in 1860 of the country’s most beautiful palace.

Tourists at the Old Summer Palace

It’s been described as China’s ground zero – a place that tells a story of cultural destruction that everyone in China knows about, but hardly anyone outside.

The palace’s fate is bitterly resented in Chinese minds and constantly resurfaces in Chinese popular films, angry social media debates, and furious rows about international art sales.

And it has left a controversial legacy in British art collections – royal, military, private – full of looted objects.

By coincidence, one of the story’s central characters is Lord Elgin – son of the man who removed the so-called “Elgin marbles” from Greece.

But there’s a twist – a hidden side to this story – which I’ve been exploring as it involved my ancestor, Thomas Bowlby, one of the first British foreign correspondents.

His torture and death at Chinese hands – and the revenge taken by Britain, destroying the old Summer Palace in Beijing in 1860 – was a moment, says one scholar, that “changed world history”.

These days the site is just ruins – piles of scorched masonry, lakes with overgrown plants, lawns with a few stones scattered where many buildings once stood. The site swarms with Chinese visitors, taken there as part of a government-sponsored “patriotic education” programme.

As everyone in China is taught, it was once the most beautiful collection of architecture and art in the country. Its Chinese name was Yuanmingyuan – Garden of Perfect Brightness – where Chinese emperors had built a huge complex of palaces and other fine buildings, and filled them with cultural treasures.

A new digital reconstruction by a team at Tsinghua University gives a vivid idea of what this extraordinary place looked like when, 155 years ago, a joint British-French army approached Beijing.

via BBC News – The palace of shame that makes China angry.

03/02/2015

Drought hits 90 lakhs farmers in Maharashtra – The Times of India

Nearly 90 lakh farmers in Maharashtra have been impacted by the drought that has devastated the kharif crop, official data shows. The figure is almost on a par with the population of Sweden.

Maharashtra is already known for its farm crisis and reports the highest number of farmer’s suicides in the country. The drought — brought on by a delayed and inadequate monsoon — is set to deepen the distress for its cultivators.

It comes close on the heels of the crop distress wreaked by the hailstorms last year which hit cultivators hard.

Data with the agriculture department show that two-thirds of the state’s 1.37crore farmers have been affected by the drought which has impacted mainly the Marathwada and Vidarbha regions. These areas have historically been the most deprived in the state.


Embed from Getty Images

via Drought hits 90 lakhs farmers in Maharashtra – The Times of India.

03/02/2015

Shanghai’s economy: GDP apostasy | The Economist

IN AN officially atheist country, one form of worship actively encouraged by the Chinese government has been devotion to GDP. From village chiefs to national leaders, presiding over fast economic growth has been the surest path to career success. Targets for GDP have formed the centrepiece of annual budgets, with officials convinced that failure to achieve them would lead to soaring unemployment and even chaos. Officials fiddle the numbers—massaging them up when growth is too slow and down when it is too fast—but basic faith in GDP as the most powerful expression of their aims and accomplishments has been unwavering.

So the break with tradition was something akin to Vatican II, when on January 25th the Shanghai government announced its policy plans for 2015 and chose to omit a GDP target. While Yang Xiong, the mayor, pledged that the city would “maintain steady growth”, he gave no indication of what that might mean in numbers. In recent years China’s 31 provinces and mega-cities have steadily lowered their GDP targets as the economy has slowed. At least two-thirds missed their goals last year, a sign that such targets have become less important than in the past. But Shanghai is the first to dispense with a target altogether. The city’s Communist Party chief, Han Zheng, is a member of the ruling Politburo, so the omission was a powerful signal.

China’s leaders are still very keen on GDP. When growth slowed sharply early last year officials ramped up spending on infrastructure, a spending boost that helped the central government to come in just one-tenth of a percentage-point shy of its growth target of 7.5% last year. But leaders have been calling for more attention to economic quality rather than just quantity. They want to end an investment-heavy approach that has damaged the environment and led to a dangerous build-up of debt. Ending a fixation on GDP targets will be a great help.

With no such target to cling to, or to blush at when missed, Shanghai officials now have more scope to work on other things. Transforming the city’s free-trade zone, much hyped but little used, into a real testing ground for financial reforms, as was initially intended, is a priority. “Officials will feel less pressure to meet short-term investment objectives,” says Zhu Ning of the Shanghai Advanced Institute of Finance. Mr Yang, the mayor, says Shanghai wants to create 500,000 new jobs this year. That will only be possible if the economy remains strong. But quite what level of GDP is needed to foster such job creation is uncertain, especially as labour-intensive services come to dominate the city’s economy. So it is sensible to follow the example of other countries and focus more on employment levels than GDP.

For China as a whole, it is too soon to expect an end to GDP targeting. It will remain an important policy tool for guiding and evaluating officials, especially in poorer parts of the country where faster growth is needed to narrow the gap with coastal cities. Tibet is shooting for 12% growth this year, the same target as it set, and achieved, in 2014. But Shanghai’s example proves that, even in the grand temple of China, the cult of GDP is losing adherents.

via Shanghai’s economy: GDP apostasy | The Economist.

03/02/2015

Aam Aadmi Party Scores Delhi Elections Polling Hat Trick – India Real Time – WSJ

If three’s a trend then the Aam Aadmi Party might want to throw their topis in the air in celebration at the latest opinion polls.

Three voter surveys published Tuesday in the run up to elections in Delhi gave the lead to AAP slightly ahead of Prime Minister Narendra Modi’s Bharatiya Janata Party and leagues in front of the Congress party that held the capital for 15 years until 2013.

The city goes to the polls on Feb. 7 in an election that is widely viewed as a referendum on Mr. Modi’s performance since he took office in May. The results will be announced on Feb. 10.

To be sure, opinion polling in India is far from an exact science and usually needs to be taken with a handful of salt.

Nevertheless, the wind seems to be changing in favor of AAP, or the common man’s party in a revival of fortunes after a drubbing in national elections last year.

Analysts say this is because the upstart party has focused on local issues-based politics while the BJP and Congress have been turned their arsenal on Mr. Kejriwal at the expense of issues voters care about.

AAP, led by tax-inspector-turned-activist-turned-politician Arvind Kejriwal, could walk away with 36 to 40 seats in the 70-member legislative assembly, according to the latest findings from polling firm TNS for the Economic Times newspaper.

To form the government in Delhi, a party needs a simple majority of 36 seats.

via Aam Aadmi Party Scores Delhi Elections Polling Hat Trick – India Real Time – WSJ.

03/02/2015

Mines Shut as China Burns Less Coal – China Real Time Report – WSJ

Yu County, a sprawling mountainous area in China’s northern industrial province of Hebei, is known for its ancient temples and coal mines. These days, the temples remain, but the mines are vanishing. As the WSJ’s Chuin-Wei Yap and Rhiannon Hoyle report:

“We used to have around 300 coal mines in the area. Now it’s down to 70-plus,” said a manager of a local pit who identified himself only as Mr. Cheng. Shrinking profit margins and a failure to meet safety standards have led many to close, Mr. Cheng said. His own midsize company, Kanghe Coal Mining Co., was swallowed by a larger competitor, state-owned Kailuan Group Co., last year.

What is happening in Yu County is an illustration of the bleak times for the global coal industry. Tougher environmental standards coupled with shrinking demand have led to the closing of mines across China and sent coal prices to their lowest in six years. China’s coal output likely fell 2.5% in 2014, the first annual decline in 14 years, the China Coal Industry Association said last week. And while full-year data aren’t yet available, official statistics show China consumed 1.1% less coal in the first three quarters of 2014 than a year earlier.

via Mines Shut as China Burns Less Coal – China Real Time Report – WSJ.

03/02/2015

China’s Antigraft Drive Turns to Financial Sector – China Real Time Report – WSJ

President Xi Jinping’s two-year antigraft campaign is hitting China’s vast financial sector, according to officials with knowledge of the matter, after investigators began questioning a senior executive at a major bank over his political ties and a board member at a second lender regarding possible corruption. As the WSJ’s Lingling Wei reports:

Mao Xiaofeng, until recently a rising star at China Minsheng Banking Corp. , resigned as president for “personal reasons,” Minsheng said on Saturday. Chinese anticorruption officials are questioning Mr. Mao over his ties to a former top Chinese Communist Party official, Ling Jihua, who is himself being investigated by graft inspectors, according to an official at one of China’s financial regulatory agencies.

And late Monday nightBank of Beijing Co. said that Lu Haijun, a board member, is being investigated over “possible serious violations” of party discipline—a euphemism for corruption among Chinese officials. A statement the bank posted on the Shanghai Stock Exchange said its operations aren’t affected by the probe.

via China’s Antigraft Drive Turns to Financial Sector – China Real Time Report – WSJ.

03/02/2015

China says 90 percent of cities failed to meet air standards in 2014 | Reuters

Nearly 90 percent of China’s big cities failed to meet air quality standards in 2014, but that was still an improvement on 2013 as the country’s “war on pollution” began to take effect, the environment ministry said on Monday.

The Ministry of Environmental Protection said on its website (www.mep.gov.cn) that only eight of the 74 cities it monitors managed to meet national standards in 2014 on a series of pollution measures such as PM2.5, which is a reading of particles found in the air, carbon monoxide and ozone.

Amid growing public disquiet about smog and other environmental risks, China said last year it would “declare war on pollution” and it has started to eliminate substandard industrial capacity and reduce coal consumption.

In 2013, only three cities – Haikou on the island province of Hainan, the Tibetan capital of Lhasa and the coastal resort city of Zhoushan – met the standards.

They were joined in 2014 by Shenzhen, Huizhou and Zhuhai in southeast Guangdong province, Fuzhou in neighboring Fujian and Kunming in the southwest.

Of the 10 worst-performing cities in 2014, seven were located in the heavy industrial province of Hebei, which surrounds the capital, Beijing, the ministry said. The cities of Baoding, Xingtai, Shijiazhuang, Tangshan, Handan and Hengshui, all in Hebei, filled the top six places.

via China says 90 percent of cities failed to meet air standards in 2014 | Reuters.

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